Updates Concerning Umbrella Insurance Coverage for the State of TX 2018

It’s bound to happen- accidents and being financially responsible for them. And even if you have insurance, it may not cover the full amount of damage which means you are left to pay the rest of the bill. Many cases this bill can have a profound effect on your home and savings. For instance, if you get into an auto accident where you are at fault, your insurance may cover $200,000 to cover the damage, medical bills, and more, but the damage may be a total of $800,000. That will leave you a whopping $600,000 in debt which can leave you in financial perils. That’s where umbrella insurance comes into play.  If you have umbrella insurance, it will cover the $600,000 owed.

Umbrella insurance covers you and your assets when a liability storm erupts.  Also, the umbrella insurance covers more than auto. It can cover one’s home, business, and more.  With this extra coverage, you can be covered even from the $1 million to $10 million range. 

Recent Updates

As with any type of insurance and in every state, sometimes amendments/changes occur. Some of the recent  updates concerning the umbrella insurance are as follows: 

  • As of January 2013,  the umbrella insurance FMMCSA may mandate carriers to retrieve more insurance coverage over the existing minimal level requirements. However, this option still wouldn’t cover the total percentage of all crashes, but more relief is provided to crash victims.  
  • According to the first quarter of 2017, the department chose to include contractually required umbrella policies and insurance in labor burden to ease the compensation process and consistently remain with Article 9.5.B. The contractually required insurance includes the minimum liability limits required by TxDOT contracts.  Totally paid by the employer, the premium is per $1,000 per $1,000 of total construction hard cost or $1000 of the onsite payroll. 
  • Under the examination of the oath, Chapter 2301, Texas insurance code  §151.001(a)(7), Texas Family Code,  a parent or a guardian may be present during a minor examination if the policy language mandates examination under oath. 


These are just a handful of umbrella insurance coverage updates, and with umbrella insurance being a broad area, there may be more updates. Because of this, it’s best to contact a reliable and trustworthy insurance firm to get all your questions and concerns covered concerning umbrella insurance.  The Eichelmann Insurance Agency is the one to turn to. Serving the Dallas, TX and surrounding areas for several years now, they are experts in the field for the state of Texas, and you’ll be in good hands working with them. So, contact Eichelmann Insurance Agency today.